"In 2020, about one-third of beauty sales were online and today it's almost half and still rising. Online sales are growing about nine times faster than in-store sales at about 20% year-over-year. What has facilitated the change isn't just consumers moving their in-store purchases online. It's an entire ecosystem that facilitates purchases without actually touching or trying the product. It starts with influencers who, according to Mayo, are "the number one marketing driver in all of beauty." They are the friend you need to make a reliable recommendation. Now consumers are much more comfortable buying products they haven't tested or smelled or event felt in stores because they are relying on influencers and the ever-popular "get ready with me" videos."
"Tiktok Shop, which is about two years old, is leading the trend fueled in large part by impulse purchases made in under 30 seconds. Data indicate that because Tiktok is new and because it's Chinese-owned, it's not trusted by all consumers and that has been a boon to Amazon. Many consumers find products on Tiktok and buy them on Amazon."
The beauty industry is undergoing rapid technological transformation driven by digital channels, influencer marketing, TikTok commerce, and AI. Online beauty sales rose from about one-third of the market in 2020 to nearly half today, growing roughly 20% year-over-year and about nine times faster than in-store sales. Influencers function as primary marketing drivers, increasing consumer willingness to purchase products sight-unseen via recommendation and "get ready with me" content. TikTok Shop encourages impulse purchases under 30 seconds, while many consumers discover products on TikTok but complete purchases on Amazon. Amazon's strength in replenishment has positioned it as the top and fastest-growing beauty retailer.
Read at Forbes
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